New Revenue Administrative Bulletin on Severance Tax from Natural Gas

In December of 2019 the Michigan Department of Treasury put out a Revenue Administrative Bulletin (2019-23) titled Allowable Marketing Cost Deduction to Severance Tax on Natural Gas.  This replaces RAB's 1989-19, 1989-20, 1992-5 and 1992-9 and updates the Department’s guidance regarding allowable marketing cost deductions to the severance tax on natural gas under 1929 PA 48, MCL 205.301

Industry experts reviewed the draft on behalf of MOGA and submitted comments back in November of 2018.  The 2019-23 Bulletin takes into account many of our comments. The Council of Petroleum Accounts Societies (COPAS) Michigan Chapter will be hosting an in-depth conversation on this at the Grand Traverse Resort on April 16th. COPAS and MOGA will put out meeting details closer to the date.

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